Cantor says restoring Strategy’s STRC to $100 par is top priority

Strategy is focused on lifting preferred stock STRC back to its $100 par value, a step Cantor described as the company’s top priority after a meeting with Executive Chairman Michael Saylor. Cantor said that effort is key to restarting Bitcoin purchases and strengthening the company’s broader capital structure. STRC traded around $87.79, while Strategy shares fell 3.4% to $97.34 and bitcoin was near $61,800. The firm may continue building cash reserves for STRC dividends and could also deploy buybacks if needed. Strategy previously sold about $216 million of bitcoin to fund STRC dividend payments, a practice JPMorgan said last week could increase risk exposure and volatility.

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